Those in receipt of tax credits in Northern Ireland will receive their Cost of Living Payment from today.
Over eight million households across the UK will receive the £301 payment from the government, with the roll out of payments having already started last week on April 25. The next stage of payments, will come into effect from today, Tuesday May 2 through to next Tuesday.
As the cost of living continues to affect families across the UK, these payments are designed to target support towards the most vulnerable in society and provide them with a financial boost.
Read more: Important changes to DWP payments, tax credits and inflation in May
The Department for Work and Pensions (DWP) will send payments automatically and directly to recipients’ bank accounts, with a reference of their National Insurance number followed by ‘DWP COL’.
This is the first of up to three payments for those eligible on means-tested benefits, including Universal Credit, Pension Credit and tax credits, totalling £900 through 2023/24. These will be accompanied by a £150 payment for people on eligible disability benefits this summer, and a £300 payment on top of Winter Fuel Payments for pensioners at the end of 2023.
People will be eligible for the Cost of Living Payment if they have been entitled to a payment for one of seven benefits between 26 January and 25 February 2023.The eligible benefits are:
- Universal Credit;
- Pension Credit;
- Income-based Jobseekers Allowance;
- Income-related Employment and Support Allowance;
- Income Support;
- Working Tax Credit;
- Child Tax Credit.
HM Revenue and Customs (HMRC) will be making payments of £301 between Tuesday 2 and Tuesday 9 May to one million eligible families receiving tax credits only, with the banking reference ‘HMRC COLS’.
The latest payment follows on from the £650 Cost of Living Payment delivered by the Government in 2022, along with another £150 disability payment and a £300 pensioner payment. While payments are made automatically, people must be receiving one of the eligible qualifying benefits during the specified period to qualify.
Those who wish to check their entitlement to benefits should use a benefits calculator on Gov.uk to get a better idea of what they could receive.
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